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Dawsongroup seals deal to take over Transflex Vehicle Rental
Date: Tuesday, April 17, 2018 | Author: Sean Keywood
LCV rental operator the Dawsongroup has taken over Transflex Vehicle Rental, formerly part of TOM Group, which went into administration last month.
The deal includes Transflex’s fleet of around 3,600 vans and will see the Dawsongroup LCV fleet increase to around 9,000 units.
The four Transflex branches, in Stockton, Manchester, Bristol and Buckingham, will be added to the eight Dawsongroup van locations.
The 80 Transflex staff who were facing redundancy will also be kept on.
Dawsongroup CEO Steve Miller said: “The troubles of the TOM Group show how tough the rental business has been for some companies.
“It is fortunate that our own business has shown strong growth over the years, and continues to do so, so we undertake this rescue with confidence: confidence in the Transflex team; confidence in the quality of their fleet; and confidence in our own ability to put the two operations together to make an even stronger whole.
“What we will bring to the mix is a strong customer-focus, supported by proven management styles and disciplines honed while developing our own hard-earned success over the past 40 plus years.”
Miller said the four Transflex locations would sit well within the existing Dawsongroup van network, and added that the Transflex senior management team would be given the support they need to get their operations quickly back on track.
He added: “With the stability now given to them and their customers, this business can progress and integrate into our own vans operations and our wider group, both of which have been growing steadily.
“They will deliver a solid and growing contribution and we are delighted to welcome them.”
Dawsongroup finance director Tony Coleman said TOM Group’s administrators from Ernest & Young LLP had worked hard to conclude the deal.
He said: “It has been a case of speed and commitment. The Transflex funders and the advisors recognised the ability of Dawsongroup as an independent company to work swiftly and with genuine integrity.
“It was instrumental in delivering an important result, which has saved 80 jobs.”
Joint administrator Colin Dempster said: “We are pleased to have secured the future of the business and the employees and wish them well with Dawsongroup.”
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